The reorganization process has been ongoing since June 2018. In August 2018, Orosur Mining Inc. wholly-owned Uruguayan subsidiary, Loryser SA (“Loryser”), placed its San Gregorio mining operations under care and maintenance. Under the Loryser reorganisation proceedings, the term for credit verification ended in September 2018. The Creditors Agreement was ratified by the Court in September 2019. Since then the Company has focused its activities on the implementation of the Creditors Agreement, and the sale of the assets of Loryser. As at November 30, 2023, Loryser had agreed and paid for the settlements with all of its former employees. It had finalised the reclamation and remediation works on the tailings dam and sold all of its remaining assets, including its plant and equipment, and is distributing the proceeds on a pro rata basis, to Loryser’s trade creditors via a Court approved paying agent. |